Economy
May 2018 at a Glance
Written by Brett Linton
May 31, 2018
Steel Market Update adjusted its price momentum indicator from neutral to higher in late May. Across the month, hot rolled steel prices averaged $886 per ton (up $13 over April), while cold rolled was at $1,007 (up $1), galvanized at $1,100 (unchanged), Galvalume at $1,322 (up $6), and plate at $966 (down $8).
The SMU Buyers Sentiment Index three-month moving average (3MMA) continues to inch down from the March high.
We are seeing a reduction in the monthly average capacity utilization rates, with the May average at 75.6 percent.
Active U.S. drilling rigs have increased consistently and ended May at 1,059 operating units.
Those are some of the highlights for the month of May. See the month-at-a-glance below for much more information on market conditions.
To see a history of our monthly review tables, visit our website.
Brett Linton
Read more from Brett LintonLatest in Economy
ISM: Manufacturing index fell in Oct to lowest point of ’24
Domestic manufacturing contracted for the seventh straight month in October, according to the latest report from the Institute for Supply Management (ISM). This marks the 23rd time in the last 24 months that it has been in contraction.
Chicago Business Barometer slips in October
The Chicago Business Barometer fell to a five-month low in October and continues to indicate deteriorating business conditions, according to Market News International (MNI) and the Institute for Supply Management (ISM).
Final Thoughts
We all know the American news cycle moves pretty fast. Viral today, cached tomorrow. So it is with the US presidential election on Tuesday, Nov. 5. People have election fatigue. They've moved on to other things like planning holiday parties, debating Super Bowl hopefuls, or even starting to look forward to our Tampa Steel Conference in February.
CRU: What will the US elections mean for economic policy?
In this Insight piece, CRU economists explore the possible economic effects of Trump's and Harris' agendas.
Architecture Billings Index remains dismal in September
Architecture firms continued to experience soft business conditions through September, according to the latest Architecture Billings Index (ABI) release by the American Institute of Architects (AIA) and Deltek.